The EBRD and UNIQA have maintained business relationships already since 1998.The partnership, in the form of a framework agreement, was previously limited to a few countries.As a direct consequence of the agreement – limited to 18.8 million ECU – the EBRD participates in the UNIQA subsidiaries in the Czech republic at approximately 17% and in Croatia at 20%

With the newly signed “Framework Agreement”, the EBRD will provide UNIQA with up to 70 million EUR for minority participations in the existing UNIQA subsidiaries in Central Europe as well as for any further acquisitions.In addition, the effective scope is expanded to all 27countries in which the EBRD operates, which are the countries of Central and Eastern Europe, the former Soviet Union and Southeast Europe.Negotiations regarding entrance into Poland are currently underway, projects in Hungary and Slovakia should follow.

“The conclusion of the expanded ‘Framework Agreement’ is an impressive recognition of our international strategy in Central and Eastern Europe.With the signing of the new contract, the EBRD has expressed that UNIQA has chosen the correct course with the company strategy and concentration on the core market of Central Europe – as we already saw through the confirmation of the ‘A’ rating by Standard & Poor in the previous year,” said UNIQA General Director Klien.“The framework agreement brings us an important partner for further expansions in our focus markets,” he explained.

Kurt Geiger, head of the EBRD financial department, emphasized: “The development of a strong and healthy insurance economy in Central and Eastern Europe is an important element in a transitional phase of the financial services sector.We are pleased to be able to work together with UNIQA.”

Additional information available at http://www.uniqagroup.com and http://www.ebrd.com